Morgan Stanley Ups Price Targets on Marriott, Hilton and Wyndham

The DJIA fell 670 points while Nasdaq was down 65, the S&P 500 fell 72 points and the 10-year treasury yield was up .03 to 4.21%. Lodging stocks were lower although the mover of note was to the upside with BHR rising another 6%.

Morgan Stanley lowered their price target on Hyatt from $157 to $144 while maintaining their Equal Weight rating. They upped their price targets on Marriott to $298 from $289; Hilton to $274 from $265; and Wyndham to $113 from $107 while maintaining Overweight ratings on all three. They maintained their Underweight rating on Choice Hotels but did up their price target to $139 from $131.

Goldman Sachs upped their price target on Hilton Grand Vacations to $42 from $37 but maintained their Sell rating.

The Tallison Hotel, part of Marriott’s Tribute Portfolio, is set to open this week in Indianapolis, Indiana. The 120-room luxury hotel is part of a dual-hotel complex that also includes the 112-room Element Indianapolis Carmel by Westin, which opened in November. The hotel, managed by Ascent Hospitality Management LLC, features more than 7,000 square feet of indoor event space and a 3,500-square-foot courtyard along with an onsite restaurant.

Commonwealth Hotels announced the grand opening of its newest property in Manhattan, Kansas, following an extensive multi-million dollar renovation. Formerly operating as Four Points by Sheraton, the re-imagined hotel is now a DoubleTree by Hilton hotel featuring 197 guestrooms and suites, expanded meeting and event spaces, onsite dining, upgraded fitness and wellness facilities, and enhanced technology. The hotel is owned by SMP Manhattan, which is part of the Scale My Portfolio group.

The Hyatt Regency Hill Country Resort and Spa, in San Antonio, Texas, is in its latest stage of ongoing renovations. The hotel’s ongoing renovation will include a 2.2-acre lagoon, a handful of exclusive villas, and a 5,600-square-foot indoor-outdoor event venue. All are scheduled for completion later this year.

Four Seasons plans to open its first luxury branded resort and residences in Puerto Rico, continuing its expansion in the Caribbean. Four Seasons Resort and Private Residences Puerto Rico, to be launched in partnership with Paulson Puerto Rico, will feature 139 renovated guestrooms and suites and 85 private residences. Amenities include multiple pools, tennis courts, an 18-hole golf course, a spa and fitness facilities, diverse culinary options, and meeting and event space.

Minor Hotels unveiled plans to introduce its Tivoli Hotels & Resorts brand to Mexico for the first time. The entry will take place in Merida, the renowned “White City,” with the anticipated opening of Tivoli Merida Residences set for early 2027. The new venture will consist of 69 luxury private residences, a restaurant, an outdoor pool with a bar, a high-end shop, a gym, a spa, and beautifully landscaped gardens.

$18 million worth of upgrades began at the Peabody Hotel in Memphis, Tennessee. Upgrades on guestrooms will be completed by September. The hotel just completed upgrades to the lobby and at the bar.

A historic downtown St. Louis hotel is up for sale again after court documents said the winning bidder didn’t have the money to buy it. Allen Yadgari was to acquire Hotel Indigo for $4 million last year. He deposited $410,000 in escrow as part of the winning bid but failed to provide the rest of the money, documents filed last week in St. Louis Circuit Court show. Midas Hospitality is the hotel’s receiver.

InterContinental Hotels & Resorts has opened its newest luxury property, InterContinental Indianapolis, following a $120 million restoration. The 11-story hotel features 170 guestrooms and suites, two new dining concepts including the first rooftop bar of its kind for the city, 5,000 square feet of meeting and event space, a fitness center, and the city’s only Penthouse Suite on a private floor.

PMZ Realty Capital LLC has arranged a $14.5M loan for the Holiday Inn Express & Suites Halton City - Fort Worth. The borrower will use the proceeds to refinance a high-interest-rate construction loan, securing more favorable financing terms through a private capital provider. The 125-room Holiday Inn Express & Suitesoffers business and fitness centers, an outdoor pool, and 3,000 square feet of indoor and outdoor meeting space.

Personnel Moves

Plamondon Hospitality Partners has promoted Nichole Vasquez to Regional Operations Director for its Marriott hotel locations in Frederick and Hagerstown, Maryland. In her new role, Vazquez will oversee six hotel properties in Marylandand help improve the guest experience.

Hilton Worldwide Holdings Inc. announced Marissa Mayer has been nominated to stand for election to the board at the company’s Annual Meeting of Shareholders in May. If elected by shareholders, Mayer will succeed long-time Hilton Director Judith McHale, who has shared her intention to retire from the board as of this year’s Annual Meeting. Mayer has served as Chief Executive Officer of Sunshine Products since 2018 and previously as CEO, President, and member of the board of directors of Yahoo!, Inc. from 2012 to 2017.

Palladium Hotel Group appointed Ana Morillo as Corporate Managing Director of the High Energy and All-Inclusive Brands Business Unit. In this new role, Morillo will lead the operations, sales, and marketing strategy for brands such as Ushuaia Ibiza Beach Hotel, Grand Palladium Hotels & Resorts, TRS Hotels, and The Unexpected Hotels, among others.

The American Hotel & Lodging Association announced the appointment of Kevin Carey to serve as the AHLA Foundation’s President and CEO, effective immediately. Carey, who will continue to serve as COO of AHLA, succeeds Anna Blue, who announced her departure in February.

Proskauer has welcomed Mark Rutter as a partner in its Los Angeles office. Mark will go to the Firm’s Real Assets Group, bringing his strong mix of experience across real asset transactions.

B&B HOTELS is separating the roles of President and General Manager, previously held by Fabrice Collet. Celine Vercollier has been appointed as the new Group Chief Executive Officer. In her new role as CEO, Celine will focus on strengthening B&B HOTELS’ leading position in the value-for-money hospitality sector. As Executive Chairman, Fabrice will focus on strategic diversification projects for B&B HOTELS. Damien Martin joins B&B HOTELS as Chief Financial Officer. Having served as CFO for the Babilou Group for ten years, Damien brings 25 years of financial experience to B&B HOTELS, with expertise in high-growth contexts within international environments.

Europe Highlights 

Aareal Bank has provided a loan of approximately €200 million to finance the acquisition of a pan-European hotel portfolio of five lifestyle assets under the Hoxton and Mama Shelter brands. The properties are located in Amsterdam, Edinburgh, Florence, Prague, and Rome. The portfolio is owned by a fund managed by Cedar Capital Partners, and all five hotels are managed by Ennismore.

IHG Hotels & Resorts has expanded its midscale brand Garner Hotel into the UK market with the launch of Garner Hotel Preston Samlesbury. Operated by KRO Hospitality, Garner Hotel Preston Samlesbury offers 80 guestrooms over three floors, the Garner Shop, and a range of dining options.

The Hoxton, Florence has opened, marking the brand’s second hotel in Italy. Set in the heart of the historical center, the hotel offers 161 rooms split across two buildings, a restaurant, a wine bar, a sprawling courtyard, dedicated event spaces, and a brand-new room category, House, a self-contained 3-bedroom apartment with its own private entrance and living space.

The Marcliffe, in Aberdeen, Scotland, is undergoing a multi-million-pound upgrade to transform guests’ visits and dining experiences. Work is to begin creating a new restaurant in the hotel’s courtyard, install a luxury bridal suite, and carry out upgrades on all guestrooms. Work is scheduled to take place from April to December this year, and the hotel will remain open throughout the renovation period. The Balmoral Group is the owner of The Marcliffe.